Opening stock---------2,300
Purchases-------------...
Use the following information to answer the question below
Opening stock---------2,300
Purchases-------------11,874
Sales--------------------18,600
Closing stock-----------3,600
Cost of goods sold---11,500
The percentage of gross profit to sales is
61.82%
38.17%
28.49%
14.25%
Correct answer is B
Gross profit = sales - cost of goods sold
= 18,600 - 11,500 = 7,100
Percentage = 7,100/18,600 x 100
= 38.17%
N Direct material used--------...
The major festure of not-for-profit-making-organization is that they are formed? ...
The amount allowed off the cost price of an article to stimulate patronage is ...
The purchase of a typewriter for office use for ₦2,000 is debited to ...
Sales--------------- 120,000 Purchase-----------100,000 Opening stock-----10,000 Closing stock---...
UCHENNA ENTERPRISES: Balance sheet as at 31st December, 1993 \(\begin{array}{c|c} & N & N &a...
Given: From the above information, the gross profit from department X is ...